The deals, which were recently signed by Iran's Minister of Petroleum,
Javad Owji, during his visit to Caracas, with several Venezuelan officials
including the country’s oil minister Pedro Tellechea, aim to bolster cooperation
between the two nations in the upstream and downstream sectors of the oil
As part of these agreements, Iran and Venezuela will collaborate on
the development of oil and gas fields, as well as the reconstruction and
modernization of Venezuelan oil refineries to maximize their operational
In addition, the two nations have agreed to work together on the
reconstruction and modernization of petrochemical complexes with the assistance
of Iranian technical services, engineering, and equipment.
The agreements also cover the reconstruction and modernization of
loading docks and oil terminals, as well as the trade and export of oil, gas
condensate, and petroleum products.
This development comes as a result of a longstanding cooperation
between the two countries, which began during the early stages of the 13th
The signing of these new agreements marks a significant milestone in
the strengthening of the already existing collaboration between Iran and
Venezuela in the oil and energy sector.
With the new agreements in place, both nations are poised to further
advance their mutual interests and propel their economies forward.
As such, it is expected that this partnership will continue to thrive
and bring about tangible benefits to both countries.